Nike announces sponsorship deal with McIlroy

Nike says it has signed a sponsorship deal with No. 1-ranked Rory McIlroy for a reported $200 million.

The deal was announced in a lavish ceremony in the United Arab Emirates ahead of the Abu Dhabi Golf Championship, which begins this week.

Nike now represents golf's two biggest stars in McIlroy and Tiger Woods, who has been with the sportswear company since turning pro in 1996.

In October, McIlroy cut ties with Acushnet Co., which had supplied him with Titleist and FootJoy gear since he turned pro five years ago. And this month, Jumeirah Group announced it was not renewing its five-year sponsorship deal with the Northern Irishman.